993 Marengo Rd · Bracey, VA 23950

$174,000

3 bd · 2.0 ba · 1,040 sqft · SingleFamily public records · 68 Days on market

Built 2004 0.87 ac lot Est $181k · at est. ↓ 8% since listing

---

Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.6/30.0
• ARV discount +9.2/15.0
• Appreciation +7.0/10.0
• DSCR +6.2/10.0
• Schools +5.4/10.0
• 1% rule +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

Key facts

• Brand new roof
• Remodeled kitchen
• Updated living space

Tags

• BRAND NEW ROOF
• REMODELED KITCHEN
• UPDATED BATHROOM VANITIES
• UPDATED LIVING SPACE
• QUIET COUNTRY SETTING

Property features AI

Finance

• Other: Ownership: Fee simple; Property condition: Good; Not in a federal flood zone; No tidal water on the lot; Pets allowed with no restrictions

Exterior

• Parking: Gravel driveway
• Utilities: Private well water; Private septic tank; Electric service 200+ amp available; Electric hot water; Internet options: DSL, Fiber Optic, Satellite; Municipal trash not available
• Home design: Manufactured / modular double-wide; Single-story (1 level); Main entrance faces south; Entry level: 1
• Construction: Estimated major remodel in 2026; Composite roof; Block and pillar/post/pier foundation; Storm windows; Structure type: Manufactured; Double-wide dimensions approximately 26 ft by 40 ft
• Exterior features: Play area; Level entry to main floor; Rural location; Outside city limits

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: Three bedrooms on the main level (one is an entry-level bedroom)
• Flooring: Luxury vinyl plank
• Bathrooms: Two full bathrooms on the main level
• Heating & cooling: Heat pump(s); Central air conditioning; Electric heating and cooling
• Interior features: Open floor plan; Combination kitchen and dining area; Ceiling fans; Family room located off the kitchen; Drywall walls and ceilings; Not furnished
• Laundry & utility: Washer/dryer hookups only

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $201 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (11.6% below list).
• Recommended offer: $154k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 2.5% in Bracey — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 61/100 on livability (#421 in VA) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A; Watch: schools F, amenities F, commute F.
• Mecklenburg County Public School District (rural): math 57% / reading 72% proficiency, ranked #49 of 131 in VA (top 37%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 15 active listings in the ZIP; 153 units permitted in Mecklenburg County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.9% local appreciation)).
• Mecklenburg County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.9% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $153,895 (11.6% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 7.68%
• Cash-on-cash: 4.95%
• DSCR: 1.22
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $180,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
993 Marengo Rd	0.00mi	3/2.0	1,040 (0%)	0mo	$180,500	$174	100

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.92% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 14.5%
• Equity multiple: 1.87×
• Total profit: $42,301
• Equity at exit: $87,427

10-year hold

• IRR: 15.6%
• Equity multiple: 3.51×
• Total profit: $122,291
• Equity at exit: $142,365

Cash invested: $48,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 23950

• Home prices YoY: 1.8%
• Active inventory: 15
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,539 medium
• Mortgage (P&I): −$912
• Tax from tax record: −$30 /mo · $359/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $201

Break-even live

Break-even rent $1,285

Max offer price $174,000

Occupancy floor 82%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-28
   status Pending 901-char remark

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

2. 2026-04-28
   status Pending 901-char remark

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

3. 2026-04-28
   status Pending

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

4. 2026-03-19
   price $174,000

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

5. 2026-03-19
   price $174,000 901-char remark

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

6. 2026-03-19
   price $174,000 901-char remark

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

7. 2026-02-19
   listed $190,000 Active 901-char remark

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

8. 2026-02-19
   listed $190,000 Active

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

9. 2026-02-18
   listed $190,000 Active 901-char remark

   Show marketing remark (901 chars)

   Move-in ready 3 bedroom, 2 bathroom home offering 1,040 sq ft of updated living space in the peaceful countryside of La Crosse, VA. This beautifully updated home features a brand-new roof, new flooring throughout, a remodeled kitchen, and updated bathroom vanities—making it a perfect turnkey opportunity for first-time homebuyers, downsizers, or investors. Enjoy low-maintenance living with modern upgrades already completed, all while experiencing the privacy and charm of rural Southside Virginia. The functional floor plan offers comfortable living spaces, ideal for everyday living or rental potential. Conveniently located near town amenities while still providing a quiet country setting, this updated property combines affordability, comfort, and value. Buyers will need to be pre-qualified or have proof of funds. Call your Realtor Representative for any questions, showings and to buy.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $359 · $30/mo
• Projected year-2 tax: $1,427 · $119/mo
• Expected delta: +$1,068/yr (+$89/mo · 297.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 6/10 Major 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,467
• − Mortgage interest: −$9,747
• − Property taxes: −$359
• − Insurance: −$870
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$5,062
• Taxable loss: −$525
• Est. tax savings @ 24.0%: +$126
• After-tax cash flow: $2,537/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mecklenburg County Public School District
• NCES district ID: 5102460
• Math proficiency: 57% ▼ -29.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $37,491
• Composite: 53.55/100
• National rank: #1446
• State rank: #49 of 131 in VA

Livability — Bracey

• Score: 61/100
• State rank: #421
• US rank: #18014

Category grades

Amenities F Commute F Cost of living B- Crime A+ Employment C+ Housing A Health & safety D- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,096
• Population (ZIP): 3,732

Population outlook (Mecklenburg County) Hauer SSP2

• Today (2025): 28,332 people
• By 2030: 26,742 · -5.6%
• By 2040: 23,502 · -17.0%
• By 2050: 20,851 · -26.4%
• By 2075: 17,525 · -38.1%
• By 2100: 14,524 · -48.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 58% Black 32% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Serbian 2% Romanian 1% Italian 1%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Spanish 5%

Political lean MEDSL · Mecklenburg

• 2024 margin: Strong R (+20.8) · D 39.4% · R 60.2%
• 2008→2024 swing: -16.2pp toward R · 2008: -4.6pp · 2024: -20.8pp
• All cycles: 2024: R+20.8 2020: R+15.2 2016: R+11.3 2012: R+7.2 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.92%
• Current HPI: 220.1067
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

-8.4% since first listed

9 events — show timeline

• 2026-04-28 Pending — SCAR
• 2026-04-28 Pending — RVLG
• 2026-04-28 Pending — BRIGHT MLS
• 2026-03-19 Price Changed $174,000 BRIGHT MLS
• 2026-03-19 Price Changed $174,000 SCAR
• 2026-03-19 Price Changed $174,000 RVLG
• 2026-02-19 Listed $190,000 BRIGHT MLS
• 2026-02-19 Listed $190,000 SCAR
• 2026-02-18 Listed $190,000 RVLG

Property tax history

+4.3%/yr

Latest (2025): $359 · +0.0% YoY. Source: county tax records.